Bitcoin is trading slightly lower over the last 24-hours after a bipartisan pair of US senators unveiled a bill on Tuesday to establish new rules for cryptocurrency including the Commodity Futures Trading Commission regulating the market rather than the Securities and Exchange Commission. The bill is not expected to become law in the current session of Congress.

The US Securities and Exchange Commission has launched an investigation into whether Terraform Labs, the creator of the terraUSD stablecoin and Luna token, violated US laws regarding how it marketed the crypto coins according to Bloomberg, following the crash of the two coins last month.

And rapper Jay-Z and former Twitter CEO Jack Dorsey have announced a Bitcoin Academy to offer free classes on cryptocurrency for residents of the Marcy Houses which is public housing in Brooklyn, New York.